LONDON, UNITED KINGDOM -- (Marketwired) -- 08/10/16 -- With China and Europe trading well over EUR1bn every day, Haitong Bank - the product of an acquisition by China's Haitong Securities of Portugal's BESI - offers a platform for even greater trade and investment between the two. At the helm is Haitong Bank's CEO Jose Maria Ricciardi, who has been awarded the World Finance Award for Europe's Banker of the Year for his part in bettering investment relations between China and Europe.
In the new issue of World Finance we scour the globe for the names that have truly set their markets alight and the ones that have not only exceeded expectations, but also delivered where others have failed. Together, the World Finance research team and our readership have arrived at which names are deserving of this year's Banker of the Year Awards.
Speaking to World Finance, Ricciardi points out that mistrust between the two is no longer the issue it once was. "China," he says, "has made an enormous effort to become a much better regulated economy, and is making an enormous fight against corruption." Haitong Bank's creation of the New China Index is testament to this commitment, and reflects the new reality of the Chinese economy: "namely, consumer spending, travel volumes, online and mobile usage, shadow banking."
Ricciardi tells World Finance that the New China Index presents an enormous opportunity for all investors and signals a change to the way in which China is investing all over the world. Last year it invested EUR21bn into Europe, and, as the second largest investment bank in China and the largest in Hong Kong, Haitong is making good on a huge opportunity to be one of the first movers in this movement.
"Europe is the most important trading partner of China," says Ricciardi. "They have established a strategy that says 'One Belt, One Road.' They want to become closer to Europe." With Ricciardi at the helm and commitment to fostering relations between the two, it looks like Haitong Bank will be part of this new cross-border flow of deals between China and Europe.
For the full list of this year's Banking Awards, pick up the latest issue of World Finance, available in print and online now.
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